香港交易及結算所有限公司及香港聯合交易所有限公司對本公佈之內容概不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示，概 不 對 因 本 公 佈 全部或任何部分內容而產生或因倚賴該等內容而引致的任何損失承擔任何責 任。 DINGYI GROUP INVESTMENT LIMITED 鼎億集團投資有限公司 （於百慕達註冊成立之有限公司） （股份代號：508） 授出購股權 本 公 佈 乃 由 鼎 億 集 團 投 資 有 限 公 司（「本公司」，連 同 其 附 屬 公 司 統 稱 為「本 集 團」）根 據 香 港 聯 合 交 易 所 有 限 公 司 證 券 上 市 規 則（「上市規則」）第17.06A條 刊 發。 本 公 司 董 事（「董 事」）會（「董事會」）謹 此 宣 佈，於 二 零 二 五 年 八 月 十 一 日（「授 出 日 期」），本 公 司 根 據 其 於 二 零 二 三 年 十 一 月 三 日 採 納 之 購 股 權 計 劃（「購股權計 劃」）向 若 干 合 資 格 人 士（「承授人」）授 出 購 股 權（「購股權」）以 從 本 公 司 股 本 中 認 購 ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年7月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 鼎億集團投資有限公司 呈交日期: 2025年8月1日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00508 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 2,000,000,000 | HKD | | 0.1 HKD | | 200,000,000 | | 增加 / 減少 (-) | | | 0 | | | HKD | | 0 | | 本月底結存 | | | 2,000,000,000 | HKD | | 0.1 HKD | | 200,000,000 | 本月底法定/註冊股本總額： HKD 200,00 ...

Core Viewpoint - Dingyi Group Investment (00508) has announced a conditional agreement to issue convertible bonds totaling HKD 980 million, convertible at an initial price of HKD 0.328 per share [1] Group 1: Convertible Bonds - The total principal amount of the convertible bonds is HKD 980 million, which can be converted into shares at an initial conversion price of HKD 0.328 per share [1] - If the conversion rights of the bonds are fully exercised, the company will issue a total of approximately 2.988 billion shares, representing about 351.23% of the company's existing issued share capital and approximately 77.84% of the enlarged issued share capital after the conversion [1] Group 2: Share Capital Increase - The company proposes to increase its authorized share capital from HKD 200 million (divided into 2 billion shares) to HKD 500 million (divided into 5 billion shares) by creating an additional 3 billion unissued shares [1] - The increase in authorized share capital is subject to approval by shareholders at a special general meeting [1]

Core Viewpoint - Dingyi Group Investment (00508) has announced a conditional agreement to issue convertible bonds totaling HKD 980 million, with a preliminary conversion price of HKD 0.328 per share [1] Group 1: Convertible Bonds - The total principal amount of the convertible bonds is HKD 980 million, which can be converted into shares at a preliminary conversion price of HKD 0.328 per share [1] - If the conversion rights of the convertible bonds are fully exercised, the company will issue a total of 2.988 billion shares, representing approximately 351.23% of the company's existing issued share capital and about 77.84% of the enlarged issued share capital after the conversion [1] Group 2: Share Capital Increase - The company proposes to increase its authorized share capital from HKD 200 million (divided into 2 billion shares) to HKD 500 million (divided into 5 billion shares) by adding 3 billion unissued shares [1] - The increase in authorized share capital is subject to approval by shareholders at a special general meeting [1]

Group 1 - The company, Dingyi Group Investment (00508.HK), announced a conditional agreement to issue convertible bonds totaling HKD 980 million, with a conversion price of HKD 0.328 per share [1] - If the conversion rights of the bonds are fully exercised, the company will issue approximately 2.988 billion shares, representing about 351.23% of the existing issued share capital and approximately 77.84% of the enlarged issued share capital [1] - The subscription price for the convertible bonds will be offset against the redemption amount owed to the subscriber for the redemption of the 2018 convertible bonds, also amounting to HKD 980 million [1] Group 2 - The company plans to increase its authorized share capital from HKD 200 million (2 billion shares) to HKD 500 million (5 billion shares) by creating an additional 3 billion unissued shares [1] - The board believes that redeeming the 2018 convertible bonds through the issuance of new convertible bonds, rather than cash payment, will allow the company to utilize cash and other internal financial resources for general working capital and business development [1]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公佈之內容概不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示，概 不 對 因 本 公 佈 全部或任何部分內容而產生或因倚賴該等內容而引致的任何損失承擔任何責 任。 本 公 佈 僅 供 參 考，並 不 構 成 收 購、購 買 或 認 購 本 公 司 任 何 證 券 之 邀 請 或 要 約。 DINGYI GROUP INVESTMENT LIMITED 鼎億集團投資有限公司 （於百慕達註冊成立之有限公司） （股份代號：508） (1) 根 據 特 別 授 權 發 行 可 換 股 債 券； (2) 關 連 交 易； (3) 建 議 增 加 法 定 股 本；及 (4) 委任獨立財務顧問 獨立董事委員會及獨立股東之獨立財務顧問 發行可換股債券及贖回二零一八年可換股債券 上市規則的涵義 董 事 會 欣 然 宣 佈，於 二 零 二 五 年 七 月 三 十 一 日（交 易 時 段 後），本 公 司 與 認 購 人 訂 立 認 購 協 議，據 此，本 公 司 有 條 件 同 意 發 行 而 認 購 人 有 條 件 同 意 認 ...

DINGYI GROUP INVESTMENT LIMITED 鼎億集團投資有限公司 （於百慕達註冊成立之有限公司） （股份代號：508） 將於二零二五年八月二十一日（星期四）舉行之股東週年大會 （或其任何續會） 適用之代表委任表格 本人╱吾等 （附註a） 地址為 為鼎億集團投資有限公司（「本公司」）之普通股（「股份」，各為一股「股份」） 股 （附註b） 之 登記持有人，茲委任 （附註c） 本公司股東週年大會（「股東特別大會」）主席或 地址為 為本人╱吾等之受委代表，代表本人╱吾等出席謹訂於二零二五年八月二十一日（星期四）下午三時正假座香港灣仔港灣道1號會展廣場 辦公大樓27樓2703室舉行之股東週年大會或其任何續會，並代表本人╱吾等按以下指示投票。 請於以下適當空欄內加上「✓」號，指示 閣下之投票意向。 | | 普通決議案 | （附註d） （附註d） 贊成 反對 | | --- | --- | --- | | 1. | 考慮及接納截至二零二五年三月三十一日止年度本公司及其附屬公司之經審核合併財 | | | | 務報表、本公司董事會報告書及獨立核數師報告。 | | | 2. | (a) 重選岳鷹先生為非執行董 ...

香港交易及結算所有限公司以及香港聯合交易所有限公司對本通告之內容概 不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示，概 不 會 就 因 本 通告全部或任何部分內容而產生或因倚賴該等內容而引致之任何損失承擔任 何 責 任。 DINGYI GROUP INVESTMENT LIMITED 鼎億集團投資有限公司 （於百慕達註冊成立之有限公司） （股份代號：508） 股東週年大會通告 茲通告 鼎 億 集 團 投 資 有 限 公 司（「本公司」）謹 訂 於 二 零 二 五 年 八 月 二 十 一 日（星 期 四）下 午 三 時 正 假 座 香 港 灣 仔 港 灣 道1號會展廣場辦公大樓27樓2703室舉行股 東 週 年 大 會，藉 以 處 理 下 列 事 項： – 1 – 1. 考慮及接納截至二零二五年三月三十一日止年度本公司及其附屬公司之 經 審 核 合 併 財 務 報 表、本 公 司 董 事 會 報 告 書 及 獨 立 核 數 師 報 告。 2. (a) 重 選 岳 鷹 先 生 為 非 執 行 董 事。 (b) 重 選 曾 山 先 生 為 執 行 董 事。 (c) ...

此乃要件 請即處理 閣下如已將名下所有鼎億集團投資有限公司（「本公司」）股份售出或轉讓，應立即將本通函連同隨 附之代表委任表格送交買主或承讓人或經手買賣或轉讓之銀行、持牌證券交易商或其他代理商， 以便轉交買主或承讓人。 閣下如對本通函任何方面或應採取之行動有任何疑問，應諮詢 閣下持牌證券交易商或其他註冊 證券機構、銀行經理、律師、專業會計師或其他專業顧問。 香港交易及結算所有限公司及香港聯合交易所有限公司對本通函之內容概不負責，對其準確性或 完整性亦不發表任何聲明，並明確表示概不就因本通函全部或任何部份內容而產生或因倚賴該等 內容而引致之任何損失承擔任何責任。 DINGYI GROUP INVESTMENT LIMITED 鼎億集團投資有限公司 （於百慕達註冊成立之有限公司） （股份代號：508） (I)發行及購回股份之一般授權； (II)重選董事； 及 (III)股東週年大會通告 本公司謹訂於二零二五年八月二十一日（星期四）下午三時正假座香港灣仔港灣道1號會展廣場辦 公大樓27樓2703室舉行股東週年大會（「股東週年大會」），召開大會之通告載於本通函第18頁至第 22頁。 無論 閣下能否出席股東週年大會，務 ...

Financial Summary [Financial Summary](index=3&type=section&id=Financial%20Summary) The Group's revenue plummeted, resulting in a significant net loss driven by a sharp decline in Mainland China revenue Five-Year Financial Data Summary (HK$ million) | Financial Item (HK$ million) | 2025 | 2024 | 2023 | 2022 | 2021 | | :--- | :--- | :--- | :--- | :--- | :--- | | **Total Assets** | 2,408 | 2,644 | 3,945 | 4,416 | 3,956 | | **Total Liabilities** | 1,344 | 1,448 | 2,688 | 2,941 | 2,482 | | **Total Equity** | 1,064 | 1,196 | 1,257 | 1,475 | 1,474 | | **Revenue** | 280 | 862 | 1,217 | 155 | 226 | | **(Loss)/Profit Attributable to Owners** | (138) | 40 | 5 | (101) | 43 | | **(Loss)/Earnings Per Share (HK cents)** | (17.05) | 5.43 | 0.63 | (13.77) | 5.84 | | **Dividend** | – | – | – | – | – | - In fiscal year 2025, revenue from Mainland China was **HK$279.7 million**, a sharp decrease from HK$862.2 million in fiscal year 2024, which was the primary reason for the decline in the Group's total revenue[7](index=7&type=chunk) Corporate Information [Corporate Information](index=4&type=section&id=Corporate%20Information) This section outlines the company's core organizational structure, key personnel, and professional advisors - The Board of Directors comprises Executive, Non-executive, and Independent Non-executive Directors, with **Mr. Yue Ying as Chairman** and **Mr. Su Xiaonong as Chief Executive Officer**[11](index=11&type=chunk)[12](index=12&type=chunk) - The company has established Audit, Remuneration, and Nomination Committees, chaired by Independent Non-executive Director Mr. Chow Siu Hang or Non-executive Director Mr. Yue Ying to ensure governance independence[11](index=11&type=chunk)[12](index=12&type=chunk)[13](index=13&type=chunk) - The company's auditor is **Pan-China International CPA Limited**, and its shares are listed on The Stock Exchange of Hong Kong Limited under the stock code **508**[11](index=11&type=chunk)[15](index=15&type=chunk) Chairman's Statement [Chairman's Statement](index=6&type=section&id=Chairman's%20Statement) The Group reported a net loss due to property business decline but is diversifying through acquisitions and exploring new investments - The net loss for the year was mainly caused by a combination of factors: - Decreased sales recognized from the property development business in China - Impairment loss provisions for loans and interest receivable - Write-downs of properties under development and properties held for sale - The loss was partially offset by gains on fair value changes of financial assets[19](index=19&type=chunk)[21](index=21&type=chunk) - On March 31, 2025, the Group completed the acquisition of Savor Dining Collective Limited, re-entering the high-end catering business and now holds **six restaurants in prime locations in Shenzhen**[24](index=24&type=chunk)[27](index=27&type=chunk) - The Group will continue to explore investment opportunities in sectors such as **new energy, finance, marine industries, and property development**[25](index=25&type=chunk)[27](index=27&type=chunk) Management Discussion and Analysis [Business Review](index=9&type=section&id=Business%20Review) The Group's revenue fell 67.5% leading to a net loss, driven by property business decline, despite a turnaround in securities trading Performance by Business Segment (HK$ million) | Business Segment | 2025 Revenue | 2024 Revenue | 2025 (Loss)/Profit | 2024 (Loss)/Profit | | :--- | :--- | :--- | :--- | :--- | | **Securities Trading** | - | - | 31 | (5) | | **Loan Financing** | 56 | 71 | 44 | 152 | | **Property Development** | 223 | 791 | (187) | (12) | - As of March 31, 2025, the total principal amount of loans receivable was approximately **HK$882 million** (2024: HK$854 million), with annual interest rates ranging from **6% to 8%**[45](index=45&type=chunk)[49](index=49&type=chunk) - The acquisition of the catering service business was completed on March 31, 2025, marking the Group's re-entry into the restaurant industry with **six high-end restaurants in Shenzhen**[83](index=83&type=chunk)[86](index=86&type=chunk) [Financial Review](index=17&type=section&id=Financial%20Review) The Group's financial position weakened with decreased revenue and cash reserves, though gross profit margin improved Key Financial Indicators (HK$ million) | Indicator | 2025 | 2024 | | :--- | :--- | :--- | | **Revenue** | 280 | 862 | | **Gross Profit** | 60 | 108 | | **Gross Profit Margin** | 21.4% | 12.5% | | **Shareholders' Funds** | 1,064 | 1,196 | | **Cash and Bank Balances** | 51 | 114 | - The total debt-to-equity ratio increased from **0.82** in 2024 to **0.92** in 2025, and the net debt-to-equity ratio rose from **0.72** to **0.87**[103](index=103&type=chunk)[108](index=108&type=chunk) - As of March 31, 2025, the fair value of the Group's listed equity securities was approximately **HK$41 million**, with a recorded fair value gain of about **HK$31 million**[94](index=94&type=chunk)[100](index=100&type=chunk) [Strategy and Outlook](index=19&type=section&id=Strategy%20and%20Outlook) The Group will maintain core operations while actively seeking new investment opportunities in strategic growth sectors - The Group will continue to explore new investment opportunities beyond its existing businesses to strengthen its core operations and enhance shareholder value[116](index=116&type=chunk)[121](index=121&type=chunk) - Key investment areas of focus include **resource and energy projects, property development, fintech, pharmaceuticals, and marine industries**[116](index=116&type=chunk)[121](index=121&type=chunk) Directors and Senior Management Profile [Directors and Senior Management Profile](index=19&type=section&id=Directors%20and%20Senior%20Management%20Profile) This section details the extensive professional backgrounds and diverse expertise of the company's directors and senior management - Executive Directors **Mr. Su Xiaonong** and **Mr. Zeng Shan** possess decades of experience in investment management, corporate restructuring, and venture capital[122](index=122&type=chunk)[123](index=123&type=chunk) - Non-executive Director and Chairman **Mr. Yue Ying** has over 30 years of experience in banking, finance, and risk management, having held senior positions at several major banks[127](index=127&type=chunk) - The team of Independent Non-executive Directors comprises professionals with backgrounds in **audit, accounting, law, and banking**, providing independent oversight for corporate governance[133](index=133&type=chunk)[136](index=136&type=chunk)[137](index=137&type=chunk) Corporate Governance Report [Corporate Governance Framework](index=25&type=section&id=Corporate%20Governance%20Framework) The company adheres to high corporate governance standards, with separate Chairman and CEO roles, despite some minor code deviations - During the reporting period, the company complied with all code provisions of the Corporate Governance Code, with some deviations such as **the notice period for seven board meetings being less than 14 days**[146](index=146&type=chunk)[176](index=176&type=chunk) - A director of a subsidiary, **Mr. Li Guangyu**, inadvertently conducted two share transactions during a blackout period, breaching the Model Code; the company has taken remedial actions[153](index=153&type=chunk)[154](index=154&type=chunk)[155](index=155&type=chunk) - Since October 15, 2024, the roles of **Chairman (Mr. Yue Ying)** and **Chief Executive Officer (Mr. Su Xiaonong)** have been held by different individuals, in compliance with the code[184](index=184&type=chunk) [Board Committees](index=33&type=section&id=Board%20Committees) The company's governance is supported by Audit, Remuneration, and Nomination committees to ensure oversight and accountability - The Audit Committee comprises three Independent Non-executive Directors, with Chairman **Mr. Chow Siu Hang** holding professional accounting qualifications; it held **3 meetings** to review financial reports and internal controls[195](index=195&type=chunk)[201](index=201&type=chunk)[203](index=203&type=chunk) - The Remuneration Committee, consisting of three Independent Non-executive Directors and one Executive Director, held **3 meetings** to review the remuneration packages for directors and senior management[205](index=205&type=chunk)[208](index=208&type=chunk) - The Nomination Committee reviews the Board's structure and composition and has adopted a board diversity policy; as of March 31, 2025, the Board included **one female director**[213](index=213&type=chunk)[216](index=216&type=chunk)[217](index=217&type=chunk) [Risk Management and Internal Control](index=42&type=section&id=Risk%20Management%20and%20Internal%20Control) The Group maintains a COSO-based risk management and internal control system, which was deemed effective by the Board - The Group's risk management system involves risk identification, assessment, and management, while its internal control system is based on the **COSO 2013 framework**[239](index=239&type=chunk)[240](index=240&type=chunk) - The Board, through the Audit Committee, conducted an annual review of the risk management and internal control systems and concluded they were **effective and adequate**[253](index=253&type=chunk)[261](index=261&type=chunk) - The Group's internal audit function is outsourced to an independent professional firm, whose annual review found the systems to be **generally satisfactory with no major control deficiencies identified**[247](index=247&type=chunk)[254](index=254&type=chunk) [Shareholders' Rights](index=46&type=section&id=Shareholders'%20Rights) This section outlines procedures for shareholders to convene meetings, make inquiries, and propose resolutions - Shareholders holding not less than **one-tenth of the paid-up capital** of the company may request the Board to convene a special general meeting[270](index=270&type=chunk) - The company has established multiple channels, including email, mail, and general meetings, to ensure two-way communication with shareholders[272](index=272&type=chunk) - The company adopted a dividend policy in March 2019, but dividend declaration is not guaranteed and depends on various factors including financial condition and future capital needs[277](index=277&type=chunk)[278](index=278&type=chunk) Environmental, Social and Governance Report [A. Environmental Aspects](index=54&type=section&id=A.%20Environmental%20Aspects) The Group reduced its environmental footprint, primarily due to the completion of property projects, and is managing climate-related risks Environmental Performance Data | Indicator | Unit | 2025 | 2024 | | :--- | :--- | :--- | :--- | | **Total GHG Emissions** | tonnes CO2e | 49.5 | 146 | | **Total Energy Consumption** | MWh | 84 | 254 | | **Total Water Consumption** | m³ | 4,216 | 3,833 | | **Non-hazardous Waste** | tonnes | 0.25 | 0.25 | - The significant reduction in greenhouse gas emissions and energy consumption was mainly attributable to the **completion of projects in the property development business**[326](index=326&type=chunk)[327](index=327&type=chunk) - The Group has identified climate-related risks, including transition risks like stricter building regulations and physical risks like extreme weather, and has developed corresponding mitigation strategies[357](index=357&type=chunk)[359](index=359&type=chunk)[360](index=360&type=chunk) [B. Social Aspects](index=63&type=section&id=B.%20Social%20Aspects) The Group expanded its workforce through acquisition while maintaining strong labor standards, product responsibility, and anti-corruption measures - As of March 31, 2025, the total number of employees increased significantly to **264** (2024: 49), with an annual employee turnover rate of **16%**[367](index=367&type=chunk)[368](index=368&type=chunk)[369](index=369&type=chunk) - Over the past three years, the Group recorded **no lost days due to work injury** and **no work-related fatalities**[376](index=376&type=chunk) - The Group strictly adheres to anti-corruption regulations with established reporting policies; there were **no legal cases regarding corrupt practices** against the Group or its employees during the period[400](index=400&type=chunk)[401](index=401&type=chunk) - During the reporting period, the Group received **no complaints regarding its products and services** and identified **no violations of customer data protection regulations**[393](index=393&type=chunk)[399](index=399&type=chunk) Report of the Directors [Business and Financial Overview](index=79&type=section&id=Business%20and%20Financial%20Overview) The Group's principal activities are investment holding and its subsidiaries' operations, with no final dividend proposed for the year - The Board **does not recommend the payment of a final dividend** for the year ended March 31, 2025[427](index=427&type=chunk)[433](index=433&type=chunk) - Revenue from the five largest customers accounted for approximately **4%** of total revenue, while purchases from the five largest suppliers accounted for about **86%** of total purchases[439](index=439&type=chunk)[444](index=444&type=chunk) - As of March 31, 2025, the Group had **264** full-time employees worldwide (2024: 49), with total annual staff costs of approximately **HK$10 million**[440](index=440&type=chunk)[445](index=445&type=chunk) [Directors' and Shareholders' Interests](index=82&type=section&id=Directors'%20and%20Shareholders'%20Interests) This section discloses the shareholding interests of directors and major shareholders, identifying Mr. Li Guangyu as the ultimate controlling party Interests of Directors and Chief Executive | Name of Director | Capacity | Number of Shares Held | Approx. % of Issued Shares | | :--- | :--- | :--- | :--- | | Mr. Su Xiaonong | Beneficial owner | 1,465,500 | 0.17% | | Mr. Zeng Shan | Beneficial owner | 20,546,500 | 2.42% | Substantial Shareholders' Interests | Name of Substantial Shareholder | Capacity | Number of Shares Held | Approx. % of Issued Shares | | :--- | :--- | :--- | :--- | | Mr. Li Guangyu | Beneficial owner & interest of controlled corporation | 326,071,540 | 38.33% | | Winner Zone Capital Investment Limited | Beneficial owner | 297,967,040 | 35.03% | | China State Shipbuilding Corporation Limited | Interest of controlled corporations | 90,868,500 | 10.68% | [Share Option Scheme](index=86&type=section&id=Share%20Option%20Scheme) The company's old share option scheme expired, and a new scheme was adopted in November 2023 with no options granted yet - The remaining **60,950,000 options** under the old share option scheme lapsed after April 10, 2024, leaving no outstanding options under that scheme as of March 31, 2025[492](index=492&type=chunk)[497](index=497&type=chunk) - The company adopted a new 10-year share option scheme on November 3, 2023, with a total of **73,567,830 shares** available for issue, representing approximately **8.65%** of the issued shares[499](index=499&type=chunk)[503](index=503&type=chunk) - As of the date of this report, **no options have been granted** under the new share option scheme[505](index=505&type=chunk)[515](index=515&type=chunk) Independent Auditor's Report [Auditor's Opinion and Key Audit Matters](index=96&type=section&id=Auditor's%20Opinion%20and%20Key%20Audit%20Matters) The auditor issued an unqualified opinion, highlighting impairment of loans receivable and property valuation as key audit matters - The auditor issued an **unqualified opinion** on the Group's consolidated financial statements[556](index=556&type=chunk)[558](index=558&type=chunk) - Key Audit Matter 1: **Impairment assessment of loans and interest receivable**, which had a carrying amount of approximately HK$852 million with a loss allowance of HK$96.29 million, involving significant management judgment on the ECL model[561](index=561&type=chunk)[564](index=564&type=chunk)[565](index=565&type=chunk) - Key Audit Matter 2: **Net realizable value assessment of properties under development and held for sale**, with a combined carrying amount of approximately HK$1.049 billion and a write-down of HK$140 million, requiring high-level management judgment[570](index=570&type=chunk)[572](index=572&type=chunk)[573](index=573&type=chunk) Consolidated Financial Statements [Consolidated Statement of Profit or Loss and Other Comprehensive Income](index=104&type=section&id=Consolidated%20Statement%20of%20Profit%20or%20Loss%20and%20Other%20Comprehensive%20Income) The Group's revenue declined sharply, leading to a net loss attributable to owners of HK$138 million for the fiscal year Key Data from Consolidated Statement of Profit or Loss (HK$'000) | Item | 2025 | 2024 | | :--- | :--- | :--- | | **Revenue** | 279,708 | 862,189 | | **Gross Profit** | 59,947 | 108,018 | | **(Loss)/Profit Before Tax** | (127,354) | 116,547 | | **(Loss)/Profit Attributable to Owners** | (138,195) | 39,984 | | **Basic and Diluted (Loss)/Earnings Per Share (HK cents)** | (17.05) | 5.43 | [Consolidated Statement of Financial Position](index=105&type=section&id=Consolidated%20Statement%20of%20Financial%20Position) The Group's total assets and equity decreased, primarily due to a reduction in the value of property assets Key Data from Consolidated Statement of Financial Position (HK$'000) | Item | 2025 | 2024 | | :--- | :--- | :--- | | **Total Assets** | 2,408,279 | 2,644,228 | | Non-current Assets | 135,185 | 54,074 | | Current Assets | 2,273,094 | 2,590,154 | | **Total Liabilities** | 1,344,370 | 1,448,363 | | Current Liabilities | 1,315,450 | 1,447,262 | | Non-current Liabilities | 28,920 | 1,101 | | **Total Equity** | 1,063,909 | 1,195,865 | [Consolidated Statement of Cash Flows](index=110&type=section&id=Consolidated%20Statement%20of%20Cash%20Flows) The Group experienced a net cash outflow from operating activities, resulting in a decrease in cash and cash equivalents Key Data from Consolidated Statement of Cash Flows (HK$'000) | Item | 2025 | 2024 | | :--- | :--- | :--- | | **Net Cash From Operating Activities** | (79,699) | 225,786 | | **Net Cash From Investing Activities** | 553 | 361 | | **Net Cash From Financing Activities** | 30,115 | (314,292) | | **Net Decrease in Cash and Cash Equivalents** | (49,031) | (88,145) | | **Cash and Cash Equivalents at End of Year** | 51,473 | 113,981 | [Notes to the Consolidated Financial Statements](index=112&type=section&id=Notes%20to%20the%20Consolidated%20Financial%20Statements) The notes detail the basis of preparation, segmental performance, and the acquisition of a new catering business - Despite the Group's loss, the ultimate controlling party, **Mr. Li Guangyu**, has committed not to demand repayment of his HK$980 million loan before March 31, 2026, thus supporting the going concern basis of the financial statements[621](index=621&type=chunk)[623](index=623&type=chunk) Segment Assets and Liabilities for FY2025 (HK$'000) | Business Segment | Segment Assets | Segment Liabilities | | :--- | :--- | :--- | | **Securities Trading** | 40,665 | – | | **Loan Financing** | 851,696 | – | | **Property Development** | 1,401,713 | 127,082 | | **Catering Services** | 78,804 | 56,867 | - On March 31, 2025, the Group acquired Savor Group for a base consideration of **HK$22 million**, which resulted in goodwill of HK$63,000 that was **fully impaired** within the year[913](index=913&type=chunk)[916](index=916&type=chunk)[918](index=918&type=chunk)